EMPLOYMENT – AUSTRALIA

Australian unemployment jumps to 10.7% in January – highest since JobKeeper ended in March 2021

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Original article by Roy Morgan
Market Research Update – Page: Online : 15-Feb-23

The latest Roy Morgan employment series data shows that 1.61 million Australians (10.7% of the workforce) were unemployed in January, up 223,000 from December. The number of Australians looking for full-time work rose by 49,000 to 644,000 in January, while the number of people looking for part-time work rose by 174,000 to 963,000. Some 1.43 million Australians (9.5% of the workforce) were under-employed – working part-time but looking for more work – up 65,000 from December. In total, 3.03 million Australians (20.2% of the workforce) were either unemployed or under-employed in January, up 288,000 on December. This is the highest level of combined unemployment and under-employment since February 2021. Meanwhile, employment decreased by 150,000 to 13,418,000 in January. This was driven by a drop in part-time employment (down 280,000 to 4,517,000), while full-time employment increased by 130,000 to 8,901,000. The movements in both full-time and part-time employment were in line with the normal seasonal trends seen at this time of year following the Christmas retailing season. Roy Morgan’s under-employment figure of 9.5% is over 3% points higher than the ABS estimate of 6.1% for December.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Jobs data is too old – we are in a new world

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Original article by Terry McCrann
Herald Sun – Page: 61 : 20-Jan-23

Official data from the Australian Bureau of Statistics shows that the economy shed 14,600 jobs in December. Economists had expected a gain of about 25,000 jobs. It is important to keep in mind that the ABS data only covers the first two weeks of December, and is therefore already five or six weeks old. The ABS itself concedes that it is only 95 per cent confident that the change in jobs was somewhere between a fall of 78,400 and an increase of 49,200. The loss of 78,000 jobs leading into the Christmas peak retail season would raise concerns about a recession, as well as the prospect of interest rate cuts. A strong increase in jobs could in turn prompt the Reserve Bank to resume lifting the cash rate by 50 basis points. More relevant and more recent evidence on what is happening with the economy will be available when the central bank’s board meets in early February.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA

ABS unemployment follows Roy Morgan’s unemployment data showing job losses in December

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Original article by Roy Morgan
Market Research Update – Page: Online : 20-Jan-23

The latest ABS unemployment data released yesterday showed employment down by 14,600 in December, in line with the already released Roy Morgan employment data which showed employment down by 12,000. The ABS data also showed a rise of 0.1% points in the unemployment rate in line with the increase in Roy Morgan’s unemployment rate, up 0.3% points in December – although ABS unemployment at 3.5% is less than half that of Roy Morgan (9.3%). The ABS employment data was collected at the start of December and may be the first inkling of a weakening economy. The decline in jobs in December shows why it is so important for the Albanese Government to get their industrial relations policies right – including dealing with the cash economy. Younger people are heavily represented in the cash economy, which is widespread in the retail and hospitality industries, and also for those employed for domestic duties and in childcare. View the latest Roy Morgan employment data to learn more.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Australian unemployment increased to 9.3% in December in line with the usual seasonal trends for this time of the year

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Original article by Roy Morgan
Market Research Update – Page: Online : 19-Jan-23

The latest Roy Morgan employment series data shows that 1.38 million Australians (9.3% of the workforce) were unemployed in December, up 46,000 from November. The increase in unemployment was in line with the usual seasonal trends seen at this time of the year as school leavers and university students joined the workforce. The number of Australians looking for full-time work rose 89,000 to 595,000 in December, while the number of people looking for part-time work fell 43,000 to 789,000. Some 1.36 million Australians (9.1% of the workforce) were under-employed – working part-time but looking for more work – down 16,000 from November. In total, 2.74 million Australians (19.4% of the workforce) were either unemployed or under-employed in December, up 30,000 on November. Meanwhile, employment decreased by 12,000 to 13,568,000 in December. This was driven by a drop in full-time employment (down 97,000 to 8,771,000), although part-time employment increased in line with the usual seasonal trends (up by 85,000 to 4,797,000). Roy Morgan’s under-employment figure of 9.1% is over 3% points higher than the ABS estimate of 5.8% for November.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Australian unemployment drops to 8.1% in September as employment soars to a record high above 13.7 million

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Original article by Roy Morgan
Market Research Update – Page: Online : 12-Oct-22

The latest Roy Morgan employment series data shows that 1.2 million Australians (8.1% of the workforce) were unemployed in September, down 161,000 (1.1%) from August. The number of Australians looking for full-time work fell 57,000 to 535,000 in September, and the number of people looking for part-time work was down 104,000 to 667,000. Some 1.56 million Australians (10.5% of the workforce) were under-employed – working part-time but looking for more work – up 59,000 from August. In total, 2.76 million Australians (18.6% of the workforce) were either unemployed or under-employed in September, up 72,000 on August. Meanwhile, employment increased by 218,000 to a record high of 13,705,000 in September. This was driven by a rise in both full-time employment (up 197,000 to 8,881,000) and part-time employment (up 21,000 to a record high of 4,824,000). Roy Morgan’s unemployment figure of 8.1% for September is more than double the ABS estimate for August of 3.5%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

RBA deliberately setting up for a recession: ACTU

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Original article by Michael Read, David Marin-Guzman
The Australian Financial Review – Page: 4 : 10-Aug-22

The ACTU has released a policy paper which argues that full and secure employment should be the top macroeconomic priority for the Jobs and Skills Summit. The report was written by Jim Stanford from the Centre for Future Work; he argues that the Reserve Bank’s "whatever it takes" approach to returning inflation to its target range means it is willing to cause a recession and massive job losses in order to do so. The ACTU wants the summit to consider a fairer and more comprehensive inflation-reducing policy, and greater regulation of labour markets to ensure that real wages growth is in line with productivity.

CORPORATES
ACTU, THE AUSTRALIA INSTITUTE LIMITED. CENTRE FOR FUTURE WORK, RESERVE BANK OF AUSTRALIA

Australian unemployment increases to 8.5% in July as workforce swells to 14.7 million Australians

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Original article by Roy Morgan
Market Research Update – Page: Online : 10-Aug-22

The latest Roy Morgan employment series data shows that 1.25 million Australians (8.5% of the workforce) were unemployed in July, up 121,000 (0.7%) from June. The number of Australians looking for full-time work was up 85,000 to 494,000 in July, and the number of people looking for part-time work was up 36,000 to 752,000. Some 1.27 million Australians (8.6% of the workforce) were under-employed – working part-time but looking for more work – up 44,000 from June. In total, 2.52 million Australians (17.1% of the workforce) were either unemployed or under-employed in July, up 165,000 on June. Meanwhile, employment increased by 74,000 to 13,440,000 in July, driven by an increase in full-time employment (up 8,000 to 8,884,000); part-time employment rose by 66,000 to 4,556,000. Roy Morgan’s unemployment figure of 8.5% for July is more than double the ABS estimate for June of 3.5%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Australian unemployment increases to 9.2% in October – as over 12 million Australians are released from long lockdowns

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Original article by Roy Morgan
Market Research Update – Page: Online : 8-Nov-21

The latest Roy Morgan employment series data shows that 1.32 million Australians were unemployed in October, up 55,000 on September, for an unemployment rate of 9.2%. Driving the increase was more people looking for part-time work (up 114,000 to 849,000) while there was a decrease in people looking for full-time work (down 59,000 to 471,000). Some 1.23 million Australians (8.6% of the workforce) were under-employed – working part-time but looking for more work, an increase of 64,000 (up 0.6% points) on September. In total, 2.55 million Australians (17.8% of the workforce) were either unemployed or under-employed in October, an increase of 119,000 on September. Meanwhile, employment dropped 289,000 to 13,019,000 in October, driven by the decrease in part-time employment (down 379,000 to 4,281,000 – the lowest since August 2020). In contrast, full-time employment increased by 90,000 in October to 8,738,000. Roy Morgan’s unemployment figure of 9.2% for October is over 4% points higher than the current ABS estimate for September 2021 of 4.6%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Australian unemployment plummets to 8.7% in September – as lockdowns of over half of Australia’s population continue

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Original article by Roy Morgan
Market Research Update – Page: Online : 4-Oct-21

The latest Roy Morgan employment series data shows that 1.27 million Australians were unemployed in September, down 97,000 on August, for an unemployment rate of 8.7%. Driving the fall was far fewer more people looking for part-time work (down 135,000 to 735,000) while there was an increase in people looking for full-time work (up 38,000 to 530,000). Some 1.16 million Australians (8.0% of the workforce) were under-employed – working part-time but looking for more work, a drop of 12,000 (down 0.2% points) from August. In total, 2.43 million Australians (16.7% of the workforce) were either unemployed or under-employed in September, a drop of 108,000 on August. Overall, total unemployment and under-employment was at its lowest since early March 2020 (2.16 million) just prior to the start of the COVID-19 pandemic. Meanwhile, employment was up 267,000 to 13,308,000 in September, driven by an increase in part-time employment (up 273,000 to 4,660,000). In contrast, full-time employment was virtually unchanged at 8,648,000. Roy Morgan’s unemployment figure of 8.7% for September is over 4% points higher than the current ABS estimate for August 2021 of 4.5%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS

Australian unemployment drops to 9.5% in August – as lockdowns force contractions in key workforce estimates

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Original article by Roy Morgan
Market Research Update – Page: Online : 7-Sep-21

The latest Roy Morgan employment series data shows that 1.36 million Australians were unemployed in August, down 60,000 on July, for an unemployment rate of 9.5%. Driving the fall was far fewer more people looking for full-time work (down 127,000 to 492,000) while there was an increase in people looking for part-time work (up 67,000 to 870,000). Some 1.18 million Australians (8.2% of the workforce) were under-employed – working part-time but looking for more work, a drop of 159,000 (down 0.9% points) from July. In total, 2.54 million Australians (17.7% of the workforce) were either unemployed or under-employed in August, a drop of 220,000 on July. The drop was driven by the contracting workforce during lockdowns as both unemployment and under-employment fell from a month ago. Meanwhile, employment was down by 157,000 to 13,041,000 in August, including 8,654,000 workers employed full-time, a drop of 111,000 from July. There was also a decrease in part-time employment, down by 46,000 to 4,387,000. Roy Morgan’s unemployment figure of 9.5% for August is nearly 5% points higher than the current ABS estimate for July 2021 of 4.6%.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS